(CGR) was the descriptive name used between (IRC), the
National Transcontinental Railway (NTR), the
Prince Edward Island Railway (PEIR), and the
Hudson Bay Railway (HBR). There were also several minor branch railways in the province of
New Brunswick .
The deepening financial crisis in Canada's railway industry toward the end of the
First World War saw the majority of major railways across the country
Nationalized by the federal government.
The first system to be taken over was the bankrupt
Canadian Northern Railway (CNoR) on
September 6 ,
1918 whereby the government-appointed ''Board of Management'' for CNoR was instructed to take responsibility for all CGR operations as well.
Later that year, a
Privy Council Order issued on
December 20 ,
1920 created the
Canadian National Railways (CNR) as a means to simplify the funding and administration of the nationalized railway system.
The
Grand Trunk Pacific Railway (GTPR) was nationalized after defaulting on loan payments
March 7 ,
1919 and entered the CNR fold on
July 12 ,
1920 . GTPR's parent company, the bankrupt
Grand Trunk Railway (GTR) was nationalized on
May 21 ,
1920 and was absorbed into the CNR on
January 30 ,
1923 .
The CGR moniker ceased to be used after
1918 but the CGR itself existed on paper until the late
20th Century , largely due to real estate leases and other agreements. A Privy Council order dated
July 22 ,
1993 authorized the sale of CGR to the
Crown Corporation CN for one dollar (CDN).
